The Bullish Cycle According to Ledger’s CTO
Charles Guillemet, the CTO of Ledger, believes that the crypto market is entering a new bullish cycle. After a long period of bearishness, Guillemet predicts that the market will continue to grow in 2024. The recent increase in the price of Bitcoin, which has surpassed $40,000 for the first time since May 2022, is seen as a positive sign for the crypto ecosystem.
The turning point came towards the end of 2023 with the potential approval of Bitcoin spot ETFs in the USA and the end of central bank interest rate hikes. Additionally, the upcoming Bitcoin halving in April could mark the end of the crypto winter and the beginning of a new bullish cycle.
The Prediction of Ledger’s CTO
According to Guillemet, this new cycle will be accompanied by significant investments. He believes that infrastructure capacity and scalability have improved since previous cycles, allowing for more transactions that are faster and cheaper. Layer 2 solutions on Ethereum, as well as Cosmos and Solana, are mentioned as examples of these advancements.
This new cycle is expected to be different from previous ones due to technological and financial transitions that have occurred since 2021. While Ledger experienced layoffs during the difficult period, Guillemet states that the company is now doing well and witnessing renewed interest from investors.
The Ledger Crisis and New Product
Guillemet acknowledges that Ledger had to lay off 10% of its workforce but emphasizes that the company’s activity does not solely depend on the crypto market. Despite facing challenges, Ledger is still working on its new product, Ledger Stax. The hardware design and production process is complex but progress is being made.
The Company’s Sources of Income
Ledger generates revenue from three sources: sales of hardware wallets and fees from the Ledger Live application for private individuals, and products offered to companies such as Ledger Vault and Tradelink. Ledger Vault is a custody solution that allows for cryptocurrency management and governance rules. While it currently has a relatively small market, Guillemet believes it will grow. Tradelink, a trading solution for institutions, is expected to be released in early 2024.
Hot Take: The Crypto Market’s New Bullish Cycle
The CTO of Ledger, Charles Guillemet, predicts that the crypto market is entering a new bullish cycle. With the recent increase in the price of Bitcoin and positive developments such as potential approval of Bitcoin spot ETFs and the upcoming halving, Guillemet believes that the crypto ecosystem is poised for growth. This new cycle is expected to be different due to advancements in infrastructure capacity and scalability, providing faster and cheaper transactions. Despite facing challenges during the difficult period, Ledger is now doing well and witnessing renewed interest from investors. As the market evolves, Ledger continues to develop new products and expand its sources of income.
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